Wall Street Profits Soar During First Half of 2020

Wall Street profits jumped 82% in the first half of this year, a rare bright spot for the city and state's pandemic-ravaged budgets.

 
Uber and Lyft Must Classify Drivers as Employees, Appeals Court Says

The ride-hailing companies are misclassifying their workers as independent contractors and need to treat them as employees according to state labor law, a California appeals court said, affirming a lower-court ruling.

 
Covid-19 Drug Remdesivir Fully Approved by FDA

The U.S. Food and Drug Administration has granted a full final approval to Gilead Sciences Inc.'s remdesivir, making it the first Covid-19 treatment deemed safe and effective by the regulator, the company said Thursday.

 
Walmart Sues U.S., Aiming to Head Off Opioid Penalties

Walmart sued the federal government in an attempt to strike a pre-emptive blow against what it said is an impending opioid-related civil lawsuit from the Justice Department.

 
Pension Backers Focus Fresh Attention on Apollo Founder's Ties to Jeffrey Epstein

Several pension backers of Apollo Global Management have expressed concern after a recent news report about financial ties between Leon Black, the firm's co-founder, and the late Jeffrey Epstein, who killed himself while awaiting trial on sex-trafficking charges.

 
Intel Hit as Consumers Flock to Lower-Cost Laptops, Datacenter Chips

Chip giant Intel Corp. raised its full-year outlook even as earnings suffered as consumers gravitated to cheaper laptops and demand for datacenters softened.

 
Qantas Revenue Grounded by Slow Travel Recovery

Delays in reopening domestic borders hit Qantas Airways's revenue in its fiscal first quarter, and the recovery in travel has been slower than expected, executives at Australia's biggest airline said.

 
Barbie Sales Take Off as Parents Try to Cut Down on Screen Time

Mattel's flagship doll Barbie posted a 29% sales increase in the latest quarter, leading the toy company to 10% revenue growth in the period. It was the largest quarterly increase posted by Barbie in at least two decades.

 
California Loses Last-Ditch Effort to Force Exide to Deal With Toxic Legacy

California taxpayers were left responsible for a contaminated plant outside Los Angeles after a judge turned down an emergency bid by state environmental regulators to block Exide Technologies from exiting bankruptcy.

 
Goldman Sachs Malaysia Subsidiary Pleads Guilty in 1MDB Case

A unit of Goldman Sachs pleaded guilty to conspiring to violate U.S. antibribery laws, the first step in an expected resolution of a long-running investigation into its role in a Malaysian corruption scandal.

(END) Dow Jones Newswires

October 22, 2020 23:00 ET (03:00 GMT)

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